bull6599;1945498 said:XXL said the same (or smthn of that sort)..."Jay, Dash and third Roc-A-Fella principal, Kareem “Biggs” Burke, sold the remaining interest in the company to Def Jam for $10 million (http://www.xxlmag.com/magazine/2005/08/look-at-me-now/). Shit IDK but it sounds like they didnt own the entire thing. Could be wrong though.
your speaking of 2 different instances tho ... the 10 million was all three disbanding from the roc and selling it to def jam. this was right after jada kiss and uncle murda signed, and jay z started roc nation.
the paragraph i wrote was speaking on the original 7 year deal (1997). that deal was then renegotiated and extended. and then finally the jay and dame split which is the 10 million you're talking about. as of right now yes, def jam owns rocafella records, but they never had any ownership before buying it (the rights to use it) for 10 million just recently. the mistake was that def jam owned half of rocafella. they did not. they simply had a distribution deal in which they (def jam) brokered with rocafella and polygram. def jam collected 25% of earnings for marketing and promoting rocafella releases. poly gram distributed the albums
def jam never owned any percent of rocafella. they bought the entire label a few years agoand made jay z president of def jam as a whole.
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